Astera Labs (NASDAQ:ALAB) Hits New 1-Year High – Here’s What Happened

Astera Labs, Inc. (NASDAQ:ALAB)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $99.05 and last traded at $98.09, with a volume of 371232 shares trading hands. The stock had previously closed at $98.17.

Analysts Set New Price Targets

ALAB has been the topic of several research reports. Roth Mkm raised their price target on Astera Labs from $80.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday. Morgan Stanley raised their price target on Astera Labs from $74.00 to $94.00 and gave the company an “overweight” rating in a research note on Tuesday. Craig Hallum raised their price target on Astera Labs from $75.00 to $105.00 and gave the company a “buy” rating in a research note on Tuesday. Stifel Nicolaus raised their price target on Astera Labs from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Tuesday. Finally, Evercore ISI cut their target price on Astera Labs from $98.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Eleven analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $92.36.

Astera Labs Trading Up 5.1 %

The stock has a fifty day moving average of $59.05 and a 200 day moving average of $58.87.

Astera Labs (NASDAQ:ALAB) last released its earnings results on Monday, November 4th. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.06. The firm had revenue of $113.10 million for the quarter, compared to analyst estimates of $97.50 million. The firm’s revenue for the quarter was up 47.1% compared to the same quarter last year. Analysts expect that Astera Labs, Inc. will post -0.54 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Stefan A. Dyckerhoff sold 50,000 shares of Astera Labs stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $89.70, for a total transaction of $4,485,000.00. Following the completion of the transaction, the director now directly owns 129,617 shares in the company, valued at approximately $11,626,644.90. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jack R. Lazar sold 2,000 shares of Astera Labs stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $69.95, for a total value of $139,900.00. Following the transaction, the director now owns 135,000 shares of the company’s stock, valued at approximately $9,443,250. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 614,458 shares of company stock valued at $36,455,841 over the last quarter.

Institutional Trading of Astera Labs

A number of institutional investors and hedge funds have recently made changes to their positions in ALAB. Sei Investments Co. purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $952,000. Lord Abbett & CO. LLC purchased a new stake in shares of Astera Labs in the first quarter valued at approximately $33,141,000. Forge First Asset Management Inc. acquired a new position in Astera Labs in the 1st quarter valued at $1,143,000. Vanguard Group Inc. acquired a new position in Astera Labs in the 1st quarter valued at $127,268,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Astera Labs in the 1st quarter valued at $1,484,000.

Astera Labs Company Profile

Astera Labs, Inc designs, manufactures, and sells semiconductor-based connectivity solutions for cloud and AI infrastructure. Its Intelligent Connectivity Platform is comprised of a portfolio of data, network, and memory connectivity products, which are built on a unifying software-defined architecture that enables customers to deploy and operate high performance cloud and AI infrastructure at scale.